EPFO Interest: Know your monthly contribution to make Rs 3cr, Rs 4cr, Rs 5cr retirement corpus; calculations here
Employees can withdraw partially from their EPF to cover specified costs such as further education, marriage, house construction, and illness.
EPFO or Employees' Provident Fund Organisation is a non-constitutional body that encourages employees to save for retirement.
EPFO schemes
The EPFO provides several programs, including the Employees' Provident Funds Scheme 1952 (EPF), the Employees' Pension Scheme 1995 (EPS), and the Employees' Deposit Linked Insurance Scheme 1976 (EDLI).
EPF benefits
When workers retire, quit, or die, the EPF offers them benefits such as a pension and insurance.
EPF partial withdrawal
Employees can withdraw partially from their EPF to cover specified costs such as further education, marriage, house construction, and illness.
EPF works as an emergency fund
Emergency funds: The EPF can serve as an emergency fund for employees.
EPF current interest rate
Interest: EPF provides a pre-fixed annual interest rate of 8.25 per cent, and the interest earned is tax-free.
EPFO services
- Online registration
- You can generate UAN details online
- You can pay EPF subscription online
- EPF challan online
- Address you grievances
- Transfer claims online
What can be your monthly contribution to build a Rs 3 crore corpus?
To get Rs 3 crore on retirement, one needs to contribute Rs 8,400 per month for 40 years. On maturity, you will get a total of Rs 3,01,94,804.03 at the current interest rate of 8.25 per cent.
What can be your monthly contribution to build a Rs 4 crore corpus?
To get Rs 4 crore on retirement, one needs to contribute Rs 11,200 per month for 40 years. On maturity, you will get a total of Rs 4,02,59,738.7 at a current interest rate of 8.25 per cent.
What can be your monthly contribution to build a Rs 5 crore corpus?
To get Rs 5 crore on retirement, one needs to contribute Rs 12,000 per month for 40 years. On maturity, you will get a total of Rs 5,08,70,991.64 at the current interest rate of 8.25 per cent.